Zurich adds protected rights to drawdown

The company’s ‘Flexible Drawdown Plan’ will also offer a ‘nil income enhancement’ feature, which means if the client decides not to take a regular income Zurich will provide an annual rebate to the fund. Zurich says the decision to include protected rights - the part of a pension fund built up through contracting out of the State Second Pension (S2P) - in the drawdown facility for the first time provides clients with more options in their retirement. The life insurer claims the launch of a self-invested element to the fund means investors will have more choice on the best way to meet th...